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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    5585 Commercial SE St Salem, OR 97306-1117

    • Warehouses
    • 9,480 SF
    • 2.21 lot acres
    OFF-MARKET
    Value Estimations
    $2,900,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-0764396
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • South Salem Mini Storage / Self-Storage Facility / Storage Facility

    Property Details for 5585 Commercial SE St

    Year built
    1990
    Lot size
    2.21 lot acres
    Property size
    9,480 SF
    Zone code
    IC
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    083W14CB00200
    APU
    083W14CB00200

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,929,000
      Market price range: $1.14M - $2.93M
      AI Estimate
      $2,868,000
      Market price range: $565k - $2.87M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $1,845,000
      Current use
      RESTAURANT
      $4,180,000
      Change: +127% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $3,385,000
      Change: +84% Conversion: Easy
      MEDICAL BUILDING
      $3,205,000
      Change: +74% Conversion: Difficult
      OFFICE BUILDING
      $2,630,000
      Change: +43% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $2,485,000
      Change: +35% Conversion: Difficult
      RETAIL STORES
      $2,335,000
      Change: +27% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Marion
    State
    Oregon
    Longitude
    -123.026
    Latitude
    44.8741
    CBSA code
    41420
    CBSA name
    SALEM, OR METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $49,107
    $0.00
    $0.00
    $2,502,030
    -
    $1,441,780
    $1,272,010
    $2,713,790

    Comparable in this City

    • Value Estimation
      $1,835,000
      6,000 SF

      1905 Robins SE Ln

      MINI-WAREHOUSE, STORAGE • 6,000 SF
      1905 Robins SE Ln, Salem, OR 97306
      View Details
    • Value Estimation
      $1,835,000
      6,000 SF

      5500 Commercial SE St

      MINI-WAREHOUSE, STORAGE • 6,000 SF
      5500 Commercial SE St, Salem, OR 97306
      View Details
    • Value Estimation by Request
      69,660 SF

      1244 Front St

      Distribution properties • 69,660 SF
      1244 Front St, Salem, OR 97306
      View Details
    • Value Estimation by Request
      1,500 SF

      2484 Delaney SE Rd

      WAREHOUSE, STORAGE • 1,500 SF
      2484 Delaney SE Rd, Salem, OR 97306-9566
      View Details
    • Value Estimation by Request
      1,986 SF

      2484 Delaney SE Rd

      WAREHOUSE, STORAGE • 1,986 SF
      2484 Delaney SE Rd, Salem, OR 97306-9566
      View Details
    • Value Estimation by Request
      1,024 SF

      1060 Boone SE Rd

      MANUFACTURING (LIGHT) • 1,024 SF
      1060 Boone SE Rd, Salem, OR 97306
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Salem Warehouse with Parking Lot

      Warehouse with parking lot in prime industrial location.
      Salem, OR 97306
      View Details
    • $1,500,000
      6,312 SF

      Salem Flex Space with Bay Doors

      Flex/industrial space featuring bay doors and mezzanine storage.
      5490 Commercial St SE, Salem, OR 97306
      View Details
    • $3,990,000
      15,670 SF

      High-Traffic Retail Property For Sale

      Well-maintained retail property with pylon sign and ample parking.
      5245-5251 Commercial St SE, Salem, OR 97306
      View Details
    • $599,000
      5.37 Acres

      Salem Land with Valley Views

      5.37 acres of land with approved septic and valley views.
      3154 Kwonesum Ct S, Salem, OR 97306
      View Details
    • $3,472,226
      2,333 SF

      Popeyes Restaurant in Salem, Oregon

      NNN leased Popeyes restaurant on a 1-acre lot.
      5503 Commercial St SE, Salem, OR 97306
      View Details
    • Contact for pricing
      24.64 Acres

      Salem I-5 Development Land

      24.64 Acres, High-Traffic Location
      0 Kuebler Blvd, Salem, OR 97306
      View Details

    Similar Nearby for Lease

    • $6 SF/Yr
      69,660 SF

      Prime Marion County Industrial Space

      69,660 SF Warehouse, Ready to Lease
      1244 Front St, Salem, OR 97306
      View Details
    • $1.50 SF/Yr
      3,900 SF

      Salem Office Space For Lease

      Office space for lease in Salem with high visibility.
      5669 Commercial St SE, Salem, OR 97306
      View Details
    • $24 SF/Yr
      10,090 SF

      Move-in Ready Office Space

      Office space with furniture, parking, and shared amenities.
      5121 Skyline Village Loop S, Salem, OR 97306
      View Details
    • $28 SF/Yr
      84,480 SF

      Anthony's Corner Retail Space

      Salem, OR: Prime retail & office suites.
      5775 Commercial St, Salem, OR 97306
      View Details
    • $28 SF/Yr
      9,290 SF

      Salem Commercial Space for Lease

      High-visibility retail/office space available
      5765 Commercial St, Salem, OR 97306
      View Details
    • $28 SF/Yr
      1,352 SF

      Retail Space on Commercial Street

      Retail spaces available in 2025 on Commercial Street.
      5757 Commercial St SE, Salem, OR 97306
      View Details
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    Salem, OR 97306-1117
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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